Calculating Your Software Investment Return
Before investing in field service management software, it's crucial to understand the potential return on investment. This calculator helps you quantify the savings and benefits.
Key Cost Savings to Calculate
1. Administrative Time Savings
Calculate time saved on scheduling, dispatching, and paperwork. Multiply by your hourly rate to determine dollar value.
2. Reduced Travel Time
Route optimization can reduce travel time by 15-25%. Calculate fuel savings and additional job capacity.
3. Fewer Return Visits
Better job preparation and documentation can reduce return visits by 20-30%. Calculate the cost of each return visit.
4. Improved Billing Accuracy
Digital documentation reduces billing errors and speeds up payment processing, improving cash flow.
ROI Calculation Formula
Annual Savings = (Time Saved × Hourly Rate) + (Travel Savings) + (Reduced Return Visits) + (Improved Billing)
ROI = (Annual Savings - Software Cost) / Software Cost × 100
Typical ROI Results
Most contractors see 200-400% ROI within the first year, with break-even typically occurring within 3-6 months.
Conclusion
Field service software investments typically pay for themselves quickly through improved efficiency and reduced operational costs.